Buying land to build a house may be your biggest investment yet, and you very well may be building your dream home. So what do you need to know about this type of purchase? The real estate team at RE/MAX Auction House put together some helpful tips below.
What to consider when buying land to build a house
A lot of the time residential land buyers plan on building the home of their dreams. This is so exciting! While you may have a long list of wants and needs, consider some of the below factors when buying land to build a home:
Size of lot
It’s important to predetermine your range of desired sizing for your lot. This helps you easily narrow down your search and budget!
In or out of city limits
With land closer to the city, prices tend to be higher. City limits may also impose certain regulations of what you can or can’t do with your land, so this is a special consideration to make. In or out of city limits can also affect the cost of the property, access to utility systems, and road accessibility.
Property zoning is determined by local laws, also known as ordinances. For example, certain pieces of land may be prohibited for residential use. As you can see, buying a property for a specific use then finding out that this use is illegal is a huge setback.
Related: How To Sell Land Online
Therefore, it’s important to understand the zoning types of the property before you purchase it. As you look for land to buy, make sure that you know the type of zoning you will need.
When buying land to build a house, utilities are necessary for your land purchase. You may want to factor in the possibility of adding utilities after buying, as not all properties will be equipped. This can affect the price of the land and your own budget.
Determine your needs for accessibility. Would you like a grocery store within 10 minutes? Easy highway access? Understanding a property’s accessibility is a key factor to consider when buying land.
Learn more about buying land to build a house from the real estate experts at RE/MAX Auction House!
RE/MAX Auction House is a group of agents, brokers, and auctioneers with a passion for all things real estate. Our team of real estate professionals has over 50 years of combined experience. We offer both traditional real estate listings and online auction listings, and we love providing our services for our buyers and sellers.
Proudly associated with RE/MAX for the last 37 years, RE/MAX Auction House is advancing the real estate industry through our online auction platform. We serve the greater Kansas City metropolitan area and surrounding regions.
For more information on buying land to build a house, reach out to us online or at 816.741.0123. We can also help you secure financing with one of our trusted mortgage lenders.